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the social security payroll tax. there is a tax increase in january. unless someone steps up and says wait a second, we are getting everyone else a tax break and let social security tax go up 2%. >> bret: winners and losers? >> bill kristol is turning in to a socialist. [ laughter ] >> family tradition. way back. >> secretary of the treasury sitting right over there. workers, champion. the winner mahmoud abbas locally because he outshone hamas on this even though the victory he won in the u.n. was pyraquan. loser speaker of the house john boehner. he offered the president a peace pipe and got in return a demand that he turned over his sword, his shirt and at the end his trousers. that is a rather embarrassing position for the speaker. >> bret: he will be asked about it on "fox news sunday" with chris wallace. that is it for the panel. but stay tuned to see one thing congress did accomplish today. victor! victor! i got your campbell's chunky soup. mom? who's mom? i'm the giants mascot. the giants don't have a mascot! ohhh! eat up! new jammin jerk chicke
the social security payroll tax. there is a tax increase in january. unless someone steps up and says wait a second, we are getting everyone else a tax break and let social security tax go up 2%. >> bret: winners and losers? >> bill kristol is turning in to a socialist. [ laughter ] >> family tradition. way back. >> secretary of the treasury sitting right over there. workers, champion. the winner mahmoud abbas locally because he outshone hamas on this even though the...
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Dec 5, 2012
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no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. at chevy's year-end event, we have 11 vehicles that offer an epa-estimated 30 mpg highway or better. yeah? hey. hey. where's your suit? oh, it's casual friday. oh. [ male announcer ] chevy's giving more. now get a 2013 malibu ls for around $199 per month, plus competitive lessees can get $1,000 toward the down payment for an even better deal. >>> good morning, everybody. i'm thomas roberts. topping the agenda the new grinch that's threatening to steal christmas, the seemingly insurmountable impasse over the fiscal cliff. live the president's pr campaign taking him outside the white house but inside the beltway. you're taking a live look at the president glad handing the group of busi
no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. at chevy's year-end event, we have 11 vehicles that offer an epa-estimated 30 mpg highway or...
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Dec 6, 2012
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we will accept some tax increases. but let's remember, there are some very important details to be worked out. how much and when. will they just say, okay, we will stand aside while democrats pass this tax cut for the middle class and then let the tax cuts for the wealthy engs pyre? that could happen. but does it happen before the end of the year? does it happen after the end of the year? >> now, dana, on that point, a lot of this is that they seem to have already lost the american public. in a new series of polls. quinnipiac shows that americans have views close to the president. 65% say raise taxes on $250,000 plus. 85% of polls pledged against raising taxes. that's 85%. 51% think that the gop is negotiating in bad faith. so the public seems to be gone from the republican cause. >> right. by two to one in virtually all of these polls we are seeing that they are likely to blame the republicans if the fiscal cliff is reached. and i think you've seen president obama going around the country, as with that family and the
we will accept some tax increases. but let's remember, there are some very important details to be worked out. how much and when. will they just say, okay, we will stand aside while democrats pass this tax cut for the middle class and then let the tax cuts for the wealthy engs pyre? that could happen. but does it happen before the end of the year? does it happen after the end of the year? >> now, dana, on that point, a lot of this is that they seem to have already lost the american...
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Nov 30, 2012
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he compromised. >> he never compromised principles. >> well, he raised taxes. >> he also cut taxes. >> but he did compromise. >> that's not true. >> and at that point, cantor's press secretary yelled off camera saying what i was saying wasn't true. >> they are going to have to get real here, e.j. they are going to have to deal with some truth and some facts. otherwise, we'll never move forward. >> i think there is a myth of reagan as a pure idealog and he's also the guy that rec recognized that gorbechov was not like the other soviet leaders. i think the republicans have been taxaphobic ever since george h.w. bush raised the taxes back in 1990. he lost the election. they have been afraid to do it ever since. >> e.j. dionne, thank you so much for your time. have a nice great weekend. >> and great to be with you. thank you. >>> coming up, karl rove finally has the answer. he knows exactly why he blew through $300 million for his billionaire buddies. you've got to hear this. >>> and scott walker's so concerned about retirees that he want to get rid of same-day voting registration. i wond
he compromised. >> he never compromised principles. >> well, he raised taxes. >> he also cut taxes. >> but he did compromise. >> that's not true. >> and at that point, cantor's press secretary yelled off camera saying what i was saying wasn't true. >> they are going to have to get real here, e.j. they are going to have to deal with some truth and some facts. otherwise, we'll never move forward. >> i think there is a myth of reagan as a pure...
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Dec 7, 2012
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those middle class tax cuts in that legislation would protect the tax cuts for 98% of americans and 97% of small businesses. that, as we are in the midst of the holiday season, is absolutely essential to continuing to get our economy turned around and focus on job creation. >> "the new york times" reporting today that negotiations are now down to just two people. the president, the house speaker. we know that some senate democrats dispute this. what do you think about this point with regard to the negotiations and who's in the room? >> i know that the president and his advisers are focused on making sure that in the discussions that they have with both the house and the senate that whatever plan they agree to includes a balanced approach. one that's fair to the middle class and one whose math makes sense and reaches the size of the duff sit reduction we need that doesn't balance all the pain on the backs of the middle class and that makes sure that we have suspending cuts and revenue. when it comes to entitlement reform, we have an opportunity to add another hundreds of billions of doll
those middle class tax cuts in that legislation would protect the tax cuts for 98% of americans and 97% of small businesses. that, as we are in the midst of the holiday season, is absolutely essential to continuing to get our economy turned around and focus on job creation. >> "the new york times" reporting today that negotiations are now down to just two people. the president, the house speaker. we know that some senate democrats dispute this. what do you think about this point...
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democrats bet republicans cave on taxes. how confident are democrats that they're going to win this thing, they'll make this happen. >> they feel like this looks like the 2011 payroll tax. remember at the time house republicans were not going to pass that extension to that payroll tax holiday, but they felt boxed in at the end of the day and they eventually had to do what the president wanted. democrats believe that they have the issue here, they have a bill that passed out of the senate. they think the house will adopt it. the republicans say there is just no way that's going to happen, that in order to get any sort of deal on revenue, democrats have to -- >>> have a fantastic weekend, gentlemen. coming up, we're following developing news from the supreme court where we're waiting to hear if the high court takes up several major challenges to same-sex marriage. plus -- >> i was positioning is that the right newspapers, is that the right numbers. and i was shaking. and i called my husband and i said i think i'm having a hear
democrats bet republicans cave on taxes. how confident are democrats that they're going to win this thing, they'll make this happen. >> they feel like this looks like the 2011 payroll tax. remember at the time house republicans were not going to pass that extension to that payroll tax holiday, but they felt boxed in at the end of the day and they eventually had to do what the president wanted. democrats believe that they have the issue here, they have a bill that passed out of the senate....
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Dec 2, 2012
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a tax cult for 98%. the rest of the people, let's listen to them. >> it's not acceptable to me and i don't think it's acceptable to you for a handful of republicans and congressman to hold tax cuts hostage simply because they don't want tax rates on folks to go up. right? that doesn't make sense? the senate has already pass add bill to keep the taxes from going up on the middle-class families. that's already passed the senate. you remember congress, they're ready to go, they're ready to vote on that same thing. and if we can just get a few house republicans on board, we can pass the bill in the house, its wi it will land on my desk, and i am ready. i've got a bunch of pens ready to sign this bill. >> and 30 minutes after the president was finished, john boehner held a press conference. he gave a pessimistic assessment of the negotiations. let's listen to mr. boehner. >> let's not kid ourselves. but when i come out the day after the election and make it clear that republicans will put revenue on the table
a tax cult for 98%. the rest of the people, let's listen to them. >> it's not acceptable to me and i don't think it's acceptable to you for a handful of republicans and congressman to hold tax cuts hostage simply because they don't want tax rates on folks to go up. right? that doesn't make sense? the senate has already pass add bill to keep the taxes from going up on the middle-class families. that's already passed the senate. you remember congress, they're ready to go, they're ready to...
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Nov 29, 2012
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we go over the fiscal cliff rates reset under bill clinton and you're negotiating a tax cut not a tax increase. other thing the way weight of public opinion since that level has moved strongly against republicans. look who the public says they're going to blame if we go over the cliff, it's republicans because they see them as having forced the issue last time around, been willing to do this this time around. one reason boehner is grumbly and nervous because he doesn't have any leverage. >> i want to point this out. this is interesting in terms of the smoke and mirrors how this will play out for the republicans. in the "wall street journal" they write obama's flexible on highest tax rates. white house's flexibility, described by bowls, confirmed by the administration officials, could envision tax rates -- tax rate increase from the current level but was less than clinton era levels. if the republicans can say, we cut taxes from where they were under clinton it gives them cover though rates may go up. a weird, if there is an act of kabuki theater that would be it, right. >> i see a par
we go over the fiscal cliff rates reset under bill clinton and you're negotiating a tax cut not a tax increase. other thing the way weight of public opinion since that level has moved strongly against republicans. look who the public says they're going to blame if we go over the cliff, it's republicans because they see them as having forced the issue last time around, been willing to do this this time around. one reason boehner is grumbly and nervous because he doesn't have any leverage....
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i pay my tax, why not starbucks? >> sometimes they position themselveses in other country to avoid paying high taxes here and britain. amazon did $320 million in turnover in the u.k. it paid less than $3 million in british tax. all of this within the law but parliamentary law accused them of immorally minimizing the tax obligation. some say don't blame the big guys. >> i don't moral is the way we ought to levy our taxes. it should be set out in law and fairly enforced by the tax authority. individuals have their own moral compass that guides what they choose to do. >> starbucks does appear to feel the heat of public pressure. saying we need to do more. we are looking at the tax approach in the u.k. the u.k. said it will tighten its tax regime but it has not said how. other european countrys have similar concerns. with some calling for more uniform taxation across the e.u., so some countries don't become tax havens at the expense of others. bret? >> bret: amy kellogg in london. thank you. the supreme court here in the
i pay my tax, why not starbucks? >> sometimes they position themselveses in other country to avoid paying high taxes here and britain. amazon did $320 million in turnover in the u.k. it paid less than $3 million in british tax. all of this within the law but parliamentary law accused them of immorally minimizing the tax obligation. some say don't blame the big guys. >> i don't moral is the way we ought to levy our taxes. it should be set out in law and fairly enforced by the tax...
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Dec 1, 2012
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the taxes will go up for the top 2%. obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families. that's already passed the senate. your members of congress, like allyson and chaka, other democrats in the house, they're ready to go, they're ready to vote on that same thing. if we can just get a few house republicans on board, we can pass the bill in the house, it will land on my desk, and i am ready, i have got a bunch of pens ready to sign this bill. >> 30 minutes after the president was finished, house speaker john boehner held a press conference, and he left unanswered the president's call for decoupling that 98% from the richest 2%, and he gave a pessimistic assessment of the si
the taxes will go up for the top 2%. obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families....
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he's not a tax guy. he's never really worked in this sphere. >> geithner is leading these talks for two reasons. he and the president are very close. they simply click. secondly, boehner likes him. that's why geithner is the front man here. that sometimes matter more than anything else. on wednesday, the president brought back a campaign atmosphere. he surrounded himself with what he called average middle class families. it was all about ramping up political pressure on the republicans. >> if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next year. >> the president had a busy fiscal cliff day, also met privately with the ceo ofs of home depot, coca-cola and yahoo!. not to be out done on this pr front, house republicans made it public, hosting a group of nervous business leaders. they've signed on to a campaign called fix the debt. they want big spending cuts to supplement the coming tax hikes. >> i'm hopeful but i wouldn't put me anywhere near
he's not a tax guy. he's never really worked in this sphere. >> geithner is leading these talks for two reasons. he and the president are very close. they simply click. secondly, boehner likes him. that's why geithner is the front man here. that sometimes matter more than anything else. on wednesday, the president brought back a campaign atmosphere. he surrounded himself with what he called average middle class families. it was all about ramping up political pressure on the republicans....
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additional tax increases equal to $600 billion. 2009 level estate tax. multiyear stimulus package starting with at least $50 billion next year alone. permanent increase in the debt ceiling, the debt limit enough to avoid it. in exchange, $400 billion in savings from the medicare and other entitlements to be worked out next year with no guarantees. that didn't go over well. syndicated columnnist charles krauthammer. what is going on here? >> you know, up until today i didn't think -- i did think that the president had shown leg on entitlement reform. he did no 2011. when the house speaker failed to reach a grand bargain. you heard signals from dick durbin said on the sunday shows that medicare had to be on the table. he circled back and say it couldn't be part of the down payment. a lot of confidence that the president is willing to go over the cliff before he would do anything to entitlement. this is the -- the ball is in the democrats' court, not in the republicans that i spoke to today. did say that the administration proposal just as boehner said is n
additional tax increases equal to $600 billion. 2009 level estate tax. multiyear stimulus package starting with at least $50 billion next year alone. permanent increase in the debt ceiling, the debt limit enough to avoid it. in exchange, $400 billion in savings from the medicare and other entitlements to be worked out next year with no guarantees. that didn't go over well. syndicated columnnist charles krauthammer. what is going on here? >> you know, up until today i didn't think -- i did...
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Nov 29, 2012
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anything above $2,500 will be taxed and the rest will be taxed. they are going to be playing $10,000, $12,000 more per year taxable rate to get their kids per school. >> and they're always talking about how the republicans want to destroy the study for autism. but here it is black and white in the obama. we appreciate it. it's great to see you. >> thanks for having me. >> now to the lottery frenzy. there's already a winner in this game. the government. not good. we're going to explain when "the kudlow report" comes right back. >>> if everything on the fiscal side caves, what incentive is there for tax reform in 20 13? >> ups believes congress does need to move very quickly to get this done. >> there are going to be many moments when it seems like there's a deal and then there are people who fight the deal, which is why we have been featuring the notion of rising above. >> all sides could lose if an agreement isn't arrived upon. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all
anything above $2,500 will be taxed and the rest will be taxed. they are going to be playing $10,000, $12,000 more per year taxable rate to get their kids per school. >> and they're always talking about how the republicans want to destroy the study for autism. but here it is black and white in the obama. we appreciate it. it's great to see you. >> thanks for having me. >> now to the lottery frenzy. there's already a winner in this game. the government. not good. we're going to...
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Dec 6, 2012
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tax cuts. are they willing to limit unemployment insurance, give up infrastructure spending, which is something the president has been talking about from the beginning, payroll tax cut. what's the white house plan here? >> well, alan simpson in addition to being an excellent dancer is a very shrewd political analyst. >> very hip, alan simpson. >> very, very, very good dancer recently. but, look, i think people talk in terms of political advantage and clearly the president is going to gain more political advantage from going off the cliff than the republicans are going to. that's where the polls are showing. that's clearly where there is going. that doesn't mean it's a good idea for the country or economically. the country is are they looking at their own political interests or do they actually want to make sure the economy stays out of recession here. this is a very dangerous game that we're playing with over the next four weeks. >> i want to bring in congressman tom price, a republican from ge
tax cuts. are they willing to limit unemployment insurance, give up infrastructure spending, which is something the president has been talking about from the beginning, payroll tax cut. what's the white house plan here? >> well, alan simpson in addition to being an excellent dancer is a very shrewd political analyst. >> very hip, alan simpson. >> very, very, very good dancer recently. but, look, i think people talk in terms of political advantage and clearly the president is...
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the federal tax rate is currently 25%. so it will be $380 million the government gets $95 million off the top. and the winning states not too shabby either. arizona takes 5% at 9$9.5 millin and missouri stakes $7.6 millio. in the end, the two winning ticket holders end up with 25% of that original jackpot. >>> mitt romney is heading to the white house today, just not in the capacity that he hoped for three weeks ago. this afternoon he'll sit down for a private lunch with president obama. it will be the first encounter since the final presidential debate in october. the meeting fulfills an election night promise by the president to work with romney going forward. that doesn't mean the former massachusetts governor will become a regular. >> is governor romney here tomorrow in some kind of cabinet level position? >> no. >> beyond that, is there some kind of reorganization in the commerce department where governor romney could play a role? >> again, there is -- the president doesn't have a specific assignment in mind for the g
the federal tax rate is currently 25%. so it will be $380 million the government gets $95 million off the top. and the winning states not too shabby either. arizona takes 5% at 9$9.5 millin and missouri stakes $7.6 millio. in the end, the two winning ticket holders end up with 25% of that original jackpot. >>> mitt romney is heading to the white house today, just not in the capacity that he hoped for three weeks ago. this afternoon he'll sit down for a private lunch with president...
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democrats want high tax rates for the wealthy. the president stressed the urgency of the situation in the radio address. >> if congress does nothing. every family will see the income taxes go up in the beginning of next year. a family of four will see income taxes rise $2200. we can't let that happen. our families can't afford it and neither can our economy. >> but republicans say the president should quit his campaign mode and come home and take care of business. the latest round of political maneuvering involves pressure from democrats to schedule a vote on the senate plan to extend middle class cuts. but republicans say let's see spending cuts first. >> we need to hear they are willing to make spending cuts now. not promises in the future . the tidal waves comingalt us is social security and medicare and of course, the new health care law of the presidents which is unaffordable and unworkable. >> nancy peel peel calling on speaker boehner to bring it to the floor or she will launch a move to force a vote. boehner is not likely
democrats want high tax rates for the wealthy. the president stressed the urgency of the situation in the radio address. >> if congress does nothing. every family will see the income taxes go up in the beginning of next year. a family of four will see income taxes rise $2200. we can't let that happen. our families can't afford it and neither can our economy. >> but republicans say the president should quit his campaign mode and come home and take care of business. the latest round...
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this is not acceptable, to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. right? that doesn't make sense. megyn: but some house republicans are describing the latest offer from the white house as absurd. they say the president ran on a platform to raise rates on top earners. that would amount to about $800 billion in new tax revenue they say he's now asking for double that amount, close to $1.6 trillion in new taxes. republicans also argue he calls for a balanced approach but asking for about four times as much in tax hikes as there are in possible spending cuts, all of which on the spending cut front would come later: possible spending cuts, all of which on the spending confront will come later. he also wants to permanently do away with the congress approves debt limit, effectively giving himself a blank check to add as much the sequence to a national debt that already stands at $16 trillion. moments ago, speaker of the house speaker boehner saying that the democrats plan is not going to fly. >> the white house took three we
this is not acceptable, to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. right? that doesn't make sense. megyn: but some house republicans are describing the latest offer from the white house as absurd. they say the president ran on a platform to raise rates on top earners. that would amount to about $800 billion in new tax revenue they say he's now asking for double that amount, close to $1.6 trillion in new taxes. republicans also...
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as i just indicated, it includes a $2 trillion tax increase over ten years, the biggest real-dollar tax increase in u.s. history. it increases taxes on nearly one million small businesses in the middle of a jobs crisis. according to ernst & young, this type of rate hike would cause more than 700,000 americans to lose their jobs. it raises taxes on investment income, harming economic growth even more. it includes tens of billions of dollars in more washington spending in a deal supposedly to cut the deficit. and most outrageous of all, it gives the president of the united states unilateral power to raise the limit on the federal credit card, the so-called debt ceiling, whenever he wants or as much as he wants. and while i'm flattered the administration has taken to calling this the -- quote -- "mcconnell provision" they seemed to have forgotten how this worked in the budget control act. we gave the president the authority then to request a debt ceiling increase, but that was only after the white house agreed to $2 trillion in cuts to washington spending and agreed to be bound by the timi
as i just indicated, it includes a $2 trillion tax increase over ten years, the biggest real-dollar tax increase in u.s. history. it increases taxes on nearly one million small businesses in the middle of a jobs crisis. according to ernst & young, this type of rate hike would cause more than 700,000 americans to lose their jobs. it raises taxes on investment income, harming economic growth even more. it includes tens of billions of dollars in more washington spending in a deal supposedly to...
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tall tax rates will go up. we will then enact tax cuts for 98%. we will get congratulations from the american people. >> keeping and adding back tax cut for those above $250,000, 9 #% of income would add $37 trillion in ten years and would only save $800 billion or so from raising rates on higher incomes. democrats complain the republicans didn't pay for bush tax cut and no one on the democratic side is talking about finding the off-setting savings now to extend them. several democrats contemplated going over the cliff in recent days. perhaps in hopes of gaining leverage. >> if the republicans don't agree with that, we reach a point where all the tax cuts expire and we start over next year. >> form every republican senate aide said it would be hard to blame one party. >> i think they realize that both sides will be culpable if we go over cliff. >> house speaker john boehner says going over the cliff is far too dangerous to the economy. nevertheless, even treasury secretary geithner suggested on fox news sunday that republicans might need more time
tall tax rates will go up. we will then enact tax cuts for 98%. we will get congratulations from the american people. >> keeping and adding back tax cut for those above $250,000, 9 #% of income would add $37 trillion in ten years and would only save $800 billion or so from raising rates on higher incomes. democrats complain the republicans didn't pay for bush tax cut and no one on the democratic side is talking about finding the off-setting savings now to extend them. several democrats...
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this is about tax cuts. the president is saying, renew the payroll tax cut. give tax cuts to every dollar earned up to $250,000. i don't know what they're thinking, thomas. but obviously, they are putting it all on the line for the koch brothers and sheldon adelson who earn billions of dollars. they're selfish. and there's a group called patriotic millionaires who are saying please, please, tax us fairly. and here's the point. the president is saying to the millionaires and billionaires, we're just taking you back to the tax rates that you had when bill clinton was president. and i would like to remind everybody, we had the greatest prosperity then when everyone paid their fair share. 23 million new jobs. and why is it? because the middle class had the money to spend out there, to stimulate this economy. it's a consumer-driven economy. about 70% of the economy is consumer driven. and the other thing the president put on the table, i understand, is refinancing proposal. >> right. >> where people trapped in 7%, 8% mortgages can go down to 4% and 5% mortgages ha
this is about tax cuts. the president is saying, renew the payroll tax cut. give tax cuts to every dollar earned up to $250,000. i don't know what they're thinking, thomas. but obviously, they are putting it all on the line for the koch brothers and sheldon adelson who earn billions of dollars. they're selfish. and there's a group called patriotic millionaires who are saying please, please, tax us fairly. and here's the point. the president is saying to the millionaires and billionaires, we're...
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a tax cut can't be touched. if you do that, you are raising taxes. he is known for going around capitol hill threatening anyone that ties to cut these billion dollars in wasteful tax cuts. he is providing an idealogical cover for corporate lobbying. the oil and natural gas industry provides significant funding to his foundation. >> i want to bring in my guest on exactly this question. dan? >> a very important point that i hope the president will get to. a real consolidated energy proposal. it is a direction he has been going, a little bit in the direction of clean coal i think that's the wrong direction to go. on the bigger picture, there has been nothing -- if you have to point to one thing, i'm always talking about this, that talked about the disparity, the wealth disparity we are looking at, just one thing, it has been this down ward slope in the upper bracket, marginal tax rates that have caused that. this president, that's why it is so important for us to hold on this. this president obama is not moving things back to the 50s or the 60s. >> he i
a tax cut can't be touched. if you do that, you are raising taxes. he is known for going around capitol hill threatening anyone that ties to cut these billion dollars in wasteful tax cuts. he is providing an idealogical cover for corporate lobbying. the oil and natural gas industry provides significant funding to his foundation. >> i want to bring in my guest on exactly this question. dan? >> a very important point that i hope the president will get to. a real consolidated energy...
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Dec 1, 2012
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we can live with a little tax increase. we're loaded up here. just move on and don't screw up the economy because we'll lose a lot more money if this market crashes to a second great recession. >> chris, i think to some extent the market has priced in the notion we would go over the fiscal cliff -- >> you're wrong. no. everybody -- who you talking to? i keep talking to people and they -- who you talking to? >> i actually spoke with a source the other day who is in washington, he's an attorney, who said, listen -- >> a lawyer? >> a lawyer but speaks to a lot of folks that are wall street type who says the market could take it for a couple of weeks. >> the cake is baked and they think the intelligence of politicians is up to this challenge. >> but wall street doesn't really have a lot of faith in this process to be able to get done. they have priced in just a little bit that this could happen for a while. maybe not for months, but you wouldn't see the market necessarily crash like the next day. you'd have time. i think if they came back on january
we can live with a little tax increase. we're loaded up here. just move on and don't screw up the economy because we'll lose a lot more money if this market crashes to a second great recession. >> chris, i think to some extent the market has priced in the notion we would go over the fiscal cliff -- >> you're wrong. no. everybody -- who you talking to? i keep talking to people and they -- who you talking to? >> i actually spoke with a source the other day who is in washington,...
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Dec 5, 2012
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they are saying capital and income from capital should be taxed the same way we tax earned income. that is a fundamental in equity in our tax code. >> that's right. this country in its economy he has done well when we've had policies that have promoted middle class expansion. this is good for capital. franklin roosevelt for all of understanding, he said if you don't have a middle class that works, you won't have an economy for the rich. there's a narrow mindedness that i've got mine and i want more and i'm take it from you if that's what it takes. american economic policy works best when it's building a middle class. >> you go back to henry ford, who is no legal tarian at heart. he said if my workers can't afford to buy the cars they're building i won't be able to sell them to everybody and wanted to raise wages. you have been a proponent of going over the cliff basically saying we're not going to cave because of the threat. do you still hold that position and is there support in the democratic party for it? >> there is. we're not in favor of going over the cliff we're in favor of
they are saying capital and income from capital should be taxed the same way we tax earned income. that is a fundamental in equity in our tax code. >> that's right. this country in its economy he has done well when we've had policies that have promoted middle class expansion. this is good for capital. franklin roosevelt for all of understanding, he said if you don't have a middle class that works, you won't have an economy for the rich. there's a narrow mindedness that i've got mine and i...
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Dec 7, 2012
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taxes, you have been paid sales taxes or hidden taxes, so in the end in big states, people will be paying 60 -- a minimum of 60 cents of every dollar they make to the government. and i ask you, after every american is finished paying their fair share, how much of every dollar should they be allowed to keep, juan? and i want a direct answer. don't dodge, don't duck. what is fair? >> i don't duck. i always am straight with you, sean because i think you deserve an honest answer. number one, we are talking about federal taxation. if you want to have a argument with your county or city government, new york city and westchester county or long island go have it. >> you are not answering. >> but if you are talking about federal tax, right i'm saying to you i between between 35 and 39 is totally good. >> but that's not addressing it. wait a second. this is not a small issue. after somebody pace their federal, their state, their social security, their property, their car tax, their sales tax, after they are done giving the government their fair share, state, local, federal, what is fair? give me a
taxes, you have been paid sales taxes or hidden taxes, so in the end in big states, people will be paying 60 -- a minimum of 60 cents of every dollar they make to the government. and i ask you, after every american is finished paying their fair share, how much of every dollar should they be allowed to keep, juan? and i want a direct answer. don't dodge, don't duck. what is fair? >> i don't duck. i always am straight with you, sean because i think you deserve an honest answer. number one,...
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Nov 29, 2012
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tax hikes on the rich. republicans have said, well, we don't want that, but we will put revenue on the table if you agree to some spending cuts. and now both sides are saying you show us your proposed spending cuts first. do i have it about right, marc? >> yeah, about right, essentially. look, the president -- i think it's very clear, i think at least, that the democrats want to go off the fiscal cliff. you can see it in the fact that president obama's out there campaigning instead of sitting down with john boehner, running around pushing for a bill to increase -- extend just the middle class tax cuts which he knows republicans will never do. you can see it in the fact that 33 senate democrats signed this letter which says, quote, we will oppose including social security cuts for current or future pen fisheries in any -- beneficiaries at any time. that's signed by harry reid. senator durbin giving a speech saying no touching medicare or medicaid in any year end package. so, basically, the democratic positio
tax hikes on the rich. republicans have said, well, we don't want that, but we will put revenue on the table if you agree to some spending cuts. and now both sides are saying you show us your proposed spending cuts first. do i have it about right, marc? >> yeah, about right, essentially. look, the president -- i think it's very clear, i think at least, that the democrats want to go off the fiscal cliff. you can see it in the fact that president obama's out there campaigning instead of...
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cuts to protect tax cuts for the very wealthy. that's not where they want to be and somewhere deep inside they know that. >> secretary solis, no matter who they voted for, americans are clearly saying that they want compromise and even if it means accepting policies they don't necessarily agree with. 59% of obama voters want compromise. 54% of romney voters want come pro-might. you've told people they should call their congressman and senators. >> yes. >> should they tell them, let's act like adults and work this out? >> absolutely. and what is really most important is that the public has spoken. we just got through an election and now is the time for people to come together. the president has extended an olive branch. he continues to do that and all of us are working day and night until we get there. i know it's in the best interest of our economy and the world. everyone is looking to the united states for leadership and this president has exerted so much leadership, we need to continue that. it's not one party benefiting over an
cuts to protect tax cuts for the very wealthy. that's not where they want to be and somewhere deep inside they know that. >> secretary solis, no matter who they voted for, americans are clearly saying that they want compromise and even if it means accepting policies they don't necessarily agree with. 59% of obama voters want compromise. 54% of romney voters want come pro-might. you've told people they should call their congressman and senators. >> yes. >> should they tell...
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we hear eric cantor saying no new taxes and we know that the dems want to have taxes on the wealthy and also know that the republicans would like to see some spending cuts as well. >> it's not about grover norquist and the pledge. the bottom line is this: even boehner said they're willing to have some revenue, some tax increases if we cut spending. and kelly, by having of billions more dollars in surplus package money that president obama wants, also, increasing taxes by 1.6 trillion dollars, that's not a deal that the american people can live with. it's not about grover norquist and not raising taxes, it's about going to the table and cutting a real deal. >> dick? >> i guess what i say is, what do the republicans want to cut? i mean, have they backed off the paul ryan plan to cut medicare have they backed off the plan for social security, and what is the plan? i think the president and the democrats and the country are waiting to hear. he made an offer. i'm a lawyer and deal with this and the other side why and we move to the middle. where is the republican plan. >> kelly: hold on a mi
we hear eric cantor saying no new taxes and we know that the dems want to have taxes on the wealthy and also know that the republicans would like to see some spending cuts as well. >> it's not about grover norquist and the pledge. the bottom line is this: even boehner said they're willing to have some revenue, some tax increases if we cut spending. and kelly, by having of billions more dollars in surplus package money that president obama wants, also, increasing taxes by 1.6 trillion...
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Dec 2, 2012
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individual taxes. a lot of ways to skin the cat here. but the president seem determined to raise the rates. that is not going to help the economy. of it seems vindictive to me. what we ought to do is try to reform our tax code and lower rates. maybe we'd have revenue. but revenue by itself will never keep up with the spen spending. >> shannon: what about the mortgage deduction or charitable duction? there are things that come up with discussion. are they on the table? >> i think mortgage deduction is very important to the housing industry. first term home buyers and so forth. we ought to look at everything. charitable deductions fuels a lot of university and the charities. but all the things are substantive. it's a question of what does america really want. they want good economy and jobs. >> shannon: i want to ask about the other issues going on. u.n. ambassador susan rice, a feeling she is on the short list of the president potentially to nominate here for secretary of state. if it happens she has to come before you in senate. she will
individual taxes. a lot of ways to skin the cat here. but the president seem determined to raise the rates. that is not going to help the economy. of it seems vindictive to me. what we ought to do is try to reform our tax code and lower rates. maybe we'd have revenue. but revenue by itself will never keep up with the spen spending. >> shannon: what about the mortgage deduction or charitable duction? there are things that come up with discussion. are they on the table? >> i think...
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they don't want to touch tax rates at all. and so they are left kind of jiggling around the edges with tax reform and closing loopholes and things like that. they can't afford to extend these rates and kristol is not the only republican worried about this are sort of thing. there is a persistent pr problem with the party. you know, it just lost the last election because it couldn't kind of come to terms with its insistence and it's about to go down that same pr rabbit hole again with this proposal. >> ezra, wouldn't they know that this is a pr hold that is about to go down? why would they risk this, in your opinion? >> well, think about it more broadly from a bargaining standpoint. in particular, things like the payroll tax cut and any kind of stimulus that the republicans feel that they can eventually stomach, that's a great thing for them to trade away at the end. maybe they don't hate that much but know that president obama really wants. when you're late in the negotiations, that's when they are going to begin to give thing
they don't want to touch tax rates at all. and so they are left kind of jiggling around the edges with tax reform and closing loopholes and things like that. they can't afford to extend these rates and kristol is not the only republican worried about this are sort of thing. there is a persistent pr problem with the party. you know, it just lost the last election because it couldn't kind of come to terms with its insistence and it's about to go down that same pr rabbit hole again with this...
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we preserved the estate tax, the tax on -- the low tax rates on dividends. look at the things we got off this proposal. you should back this. >> do you think he's even giving them cover on this because it's so extreme? >> i think he wants boehner to go back to his caucus and say this is where the president started. look at the hardball negotiating i did to get the president down from $1.6 trillion on tax hikes to $1 trillion on tax hikes. i saved $600 billion in tax hikes and that's probably the most effective if not the only way he can negotiate this bill. >> how do the republicans -- what is their next move. chuck schumer saying if house republicans consider the president's budget a new offer we await their counteroffer. the ball is in their court to state on what they would do on entitlements and taxes. they have given no specifics so far. >> that's a tough question for them. by the way, you said this reminds you of dillon going electric. i think of the scene in the god father michael corleoneny, my offer is nothing, not even the fee for the contract whic
we preserved the estate tax, the tax on -- the low tax rates on dividends. look at the things we got off this proposal. you should back this. >> do you think he's even giving them cover on this because it's so extreme? >> i think he wants boehner to go back to his caucus and say this is where the president started. look at the hardball negotiating i did to get the president down from $1.6 trillion on tax hikes to $1 trillion on tax hikes. i saved $600 billion in tax hikes and that's...
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. > what is your reaction to a lawmaker who wants to put an extra tax on high-speed trading? what do you think about that? > > i think it is short- sightedness. i don't mean that as any real criticism, but when you look at it, they really want to arrest the problem. it should really be on cancellations. the speed of trading isn't- in my opinion, isn't really the issue. speed should be competitive and whatnot. as long as everyone has the same fair advantage to that, i think that's what the key is. putting a tax on a broad level, saying this will fix all, i think there would be so many unattended consequences as a result of that and what it opens the door for, i just think it is totally counterproductive and really not the solution. it's a hair trigger. > thanks for your thoughts today. good to have you on the show. have a good one. > > you too. president obama heads to philadelphia today to visit a toy manufacturing plant. it's where he will also talk about his plan to avert the so-called fiscal cliff. comments yesterday from house speaker john bohener hinted lawmakers are bac
. > what is your reaction to a lawmaker who wants to put an extra tax on high-speed trading? what do you think about that? > > i think it is short- sightedness. i don't mean that as any real criticism, but when you look at it, they really want to arrest the problem. it should really be on cancellations. the speed of trading isn't- in my opinion, isn't really the issue. speed should be competitive and whatnot. as long as everyone has the same fair advantage to that, i think that's what...
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Dec 4, 2012
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new hampshire has no income tax, no sales tax. every state around new hampshire, the other new england states have one or the other going into the 1960's, 1970. every state around us added another one. they either added the sales tax or the income tax. with the representation to their people that the other tax would come down and revenue would be effectively used because it would be more effectively collected, especially if they used the sales tax. every one of those state, the revenues haven't gone down, they've gone up dramatically and the income tax has gone up. and the sales tax has gone up and the size of the government has gone up. so from my standpoint, a val added tax is just a way to grossly expand the size of the government. and it does not fix our revenue problems. more importantly than that, just put, where i think this argument ends up, the american people would annihilate any party that taxed -- that cast a national sales tack. the democrat party thinks they're in charge now, and they are. the republican party has do
new hampshire has no income tax, no sales tax. every state around new hampshire, the other new england states have one or the other going into the 1960's, 1970. every state around us added another one. they either added the sales tax or the income tax. with the representation to their people that the other tax would come down and revenue would be effectively used because it would be more effectively collected, especially if they used the sales tax. every one of those state, the revenues haven't...
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that's just a fact, david. >> people would prefer it be done through tax reform, through tax loopholes, but also let me -- >> do you explain to them that by tax loopholes you're not going to get enough revenue to do what needs to be done? >> you are going to get to the 800 billion the speaker said you were going to get to. >> no, i don't think that's right, david. >> we have, again, our economists say we can get to that 800 billion. you have an economist says that you can't get to the 1.6 trillion that the president is trying to ask for. >> and republican math said that mitt romney was going to be president. >> now, that's a different dynamic. look, if you talk to other republicans, there were some other republicans that perhaps didn't have that level of confidence there but, again, i want to go back to this point. >> real quickly, david. we're out of time here. >> the fact is, the president and tim geithner have willfully taken a position that, in fact, in terms of generating revenue that there's only one way to generate revenue and that's through raising taxes and the president has b
that's just a fact, david. >> people would prefer it be done through tax reform, through tax loopholes, but also let me -- >> do you explain to them that by tax loopholes you're not going to get enough revenue to do what needs to be done? >> you are going to get to the 800 billion the speaker said you were going to get to. >> no, i don't think that's right, david. >> we have, again, our economists say we can get to that 800 billion. you have an economist says that...
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taxes by one means or another. so i certainly agree with him on that. and i believe the president has a high degree of resolve about that, too. so i'm all for that. >> the book is "tap dancing to work warren buffett on practically everything" the oracle of omaha. we appreciate you're coming on today. look forward to seeing you soon. >> thank you for having me. >>> two nfl players leaving lucative contracts behind in search of something higher, their story next on "andrea mitchell reports." a hybrid? most are just no fun to drive. now, here's one that will make you feel alive. meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the all-new 47 combined mpg c-max hybrid. i'd like to thank eating right, whole grain, multigrain cheerios! mom, are those my jeans? [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. mu
taxes by one means or another. so i certainly agree with him on that. and i believe the president has a high degree of resolve about that, too. so i'm all for that. >> the book is "tap dancing to work warren buffett on practically everything" the oracle of omaha. we appreciate you're coming on today. look forward to seeing you soon. >> thank you for having me. >>> two nfl players leaving lucative contracts behind in search of something higher, their story next on...
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Dec 3, 2012
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the president has been very specific on tax revenues and what he wants. but the republicans are trying to put him in a position of doing their job for them. saying well, you tell us what you'll take and then maybe we'll come up with a plan. and clearly obama's not going to play that game. that's what geithner was signaling in the talk shows, that we're waiting for your proposal on entitlements, tell us what it is. >> look, therein lies the rub. that's the rub on this. because you led in with the president's speech in 2011. very good words, serious, somber. >> words that did not play well for the republicans. >> got that. but this is where the republicans are. okay. show me you're serious. lay out where you're beginning to want to make those cuts on entitlements. because we don't want to get out in front of this and be whipped upside the head for wanting to cut all these programs to, you know, kids afterschool and rec centers. >> the white house needs to present what they're -- >> the reality, yeah. that's it. on entitlements, the republicans view is we've
the president has been very specific on tax revenues and what he wants. but the republicans are trying to put him in a position of doing their job for them. saying well, you tell us what you'll take and then maybe we'll come up with a plan. and clearly obama's not going to play that game. that's what geithner was signaling in the talk shows, that we're waiting for your proposal on entitlements, tell us what it is. >> look, therein lies the rub. that's the rub on this. because you led in...
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tax increases. after that, ezra klein breaks down the offer and we will discuss today's pow wow between state governors and president obama and what it pore tends for the 21 million americans hoping for health care and "the new york times" frank bruney weighs in on doma and cage for marriage equality when "now" starts in just three minutes. n't my daughs black bean soup spectacular? [ man thinking ] oh, this gas. those antacids aren't working. oh no, not that, not here! [ male announcer ] antacids don't relieve gas. gas-x is designed to relieve gas. gas-x. the gas xperts. gas-x is designed to relieve gas. when you lost the thing you can't believe you lost.. when what you just bought, just broke. or when you have a little trouble a long way from home... as an american express cardmember you can expect some help. but what you might not expect, is you can get all this with a prepaid card. spends like cash. feels like membership. ♪ but the fire is so delightful ♪ nothing melts away the cold like a h
tax increases. after that, ezra klein breaks down the offer and we will discuss today's pow wow between state governors and president obama and what it pore tends for the 21 million americans hoping for health care and "the new york times" frank bruney weighs in on doma and cage for marriage equality when "now" starts in just three minutes. n't my daughs black bean soup spectacular? [ man thinking ] oh, this gas. those antacids aren't working. oh no, not that, not here! [...
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Dec 6, 2012
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an obsess to raise taxes is not going to solve the problem. >> for mr. cantor this is an obsession, but for one conservative commentator who appeared on this broadcast yesterday, it's even worse. >> president obama has this fetish of we've got to raise the rates on the top two because we're going to raise the deficit. >> who knew a balanced approach could be characterized as an obsession that evokes an erotic response. what this is about is the president drawing attention to a dirty little secret, their own fetish that republicans just don't like to hear ventilated in public. according to the congressional budget office in the years since 1979 as federal taxation has become less progressive, the income of the top 1% has grown by over $700,000, while the average pretax income for the bottom 90% of households has fallen by $900. did you get that. the top 1% up by $700,000, the bottom 90% down by $900. accusing the president of being obsessed is a
an obsess to raise taxes is not going to solve the problem. >> for mr. cantor this is an obsession, but for one conservative commentator who appeared on this broadcast yesterday, it's even worse. >> president obama has this fetish of we've got to raise the rates on the top two because we're going to raise the deficit. >> who knew a balanced approach could be characterized as an obsession that evokes an erotic response. what this is about is the president drawing attention to a...
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instead of raising tax rates, we can produce a similar amount of revenue reforming the tax code to close loopholes and lower tax rates. >> no, no, no. republicans are not getting the mitt romney tax proposal. time to move on speaker boehner. republicans are furious about the white house proposal. mitch mcconnell told the weekly standard he burst into laughter when he received the deal. the new second ranking republican in the senate john cornyn also disparaged the deal. >> that's a crazy idea. i'm amazed that secretary geithner had the courage to float that yesterday. hence the laughter from senator mcconnell. that's the kind of response it deserves. >> they are laughing in public, but they are panicking behind closed doors. conservative writer matt lewis, writer for "the daily caller", the notion that republicans have leverage is silly. it's the same kind of happy thinking that led to some boldly-predicting a romney victory. he said republicans are so screwed. this is why president obama is playing to his strengths. the president has never had a problem rallying the american people to h
instead of raising tax rates, we can produce a similar amount of revenue reforming the tax code to close loopholes and lower tax rates. >> no, no, no. republicans are not getting the mitt romney tax proposal. time to move on speaker boehner. republicans are furious about the white house proposal. mitch mcconnell told the weekly standard he burst into laughter when he received the deal. the new second ranking republican in the senate john cornyn also disparaged the deal. >> that's a...
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news the president a little more than an hour ago went to northern virginia to push the middle class tax cut message by spending time with an actual middle class family. >> the message that i got from tiffany and the message that i think we all want to send to members of congress is, this is a solvable problem. i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%, but i do remain optimistic that we can get something done that is good for families like this one's. >> and this actually appears to be working. a new poll shows the president is running ahead of the boehner-led republican team. what about basketball you say? we go to charlotte last night, and the knicks treasury secretary, carmelo anthony, top paid and big star got hurt in this dive and had to leave the game. then the at the end it came down to this. >> looking for felton and finds smith. two seconds, one second. smith for the win. >> game over. no overtime. deal, end game, done. is this meaningless nba game in charlotte lead us to how the fiscal fiesta ends? we have a man
news the president a little more than an hour ago went to northern virginia to push the middle class tax cut message by spending time with an actual middle class family. >> the message that i got from tiffany and the message that i think we all want to send to members of congress is, this is a solvable problem. i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%, but i do remain optimistic that we can get something done that is good...
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we want 98% of americans to have a tax cut come next year. i mean, representative tom cole was one of them who was quite explicit in saying we need to be on the side of most americans and be seen as being in favor of a tax cut for 98% of americans. well, let's see what the republicans are going to do. i don't know who is going to come out on the winning side of this civil war, but let's hope that the sane, level heads actually prevail. >> dr. peterson, has it surprised you it appear that is republicans have learned nothing since the election, which after all pitched the very super wealthy and the president repeatedly talked about this, versus the majority of americans? >> actually it has not surprised me, martin, because when we're talking about this wing of the republican party, first of all, there's some of them that actually believe in the ideology. they believe in the idea that tax cuts for the rich somehow creates jobs. some of them really believe this. the res of them are beholden to lobbyists and different pledges they have made to dif
we want 98% of americans to have a tax cut come next year. i mean, representative tom cole was one of them who was quite explicit in saying we need to be on the side of most americans and be seen as being in favor of a tax cut for 98% of americans. well, let's see what the republicans are going to do. i don't know who is going to come out on the winning side of this civil war, but let's hope that the sane, level heads actually prevail. >> dr. peterson, has it surprised you it appear that...
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a few republicans who are willing to talk about higher tax rev news but not higher tax rates. the president made a direct appeal to the public. the toy factory in pin pen. he urged congress to pass a bill and extend the era tax cuts for middle class only. >> congress could prevent a tax hike on the first 250,000, of everybodiy income. that means 98 percent of americans and nen percent of small businesses wouldn't see income taxes go up at all . even the wealthiest americans would get a tax cut on $250,000 of the income. democrats are pushing for a vote and it was approved by the secretary. >> and republican leaders what are their next move. >> they are sticking to their guns on the tax rate . they are reacting strongly to the plan that the president uned this week. house spheeker - on speaker boehner said it was not a serious proposal. it is an advantage to run the clock out and getting closer to the deadline in the end of the year. at some point if there is a break through it has to happen in a short manner. it takes a while to get the proposal score legislation drafted. if w
a few republicans who are willing to talk about higher tax rev news but not higher tax rates. the president made a direct appeal to the public. the toy factory in pin pen. he urged congress to pass a bill and extend the era tax cuts for middle class only. >> congress could prevent a tax hike on the first 250,000, of everybodiy income. that means 98 percent of americans and nen percent of small businesses wouldn't see income taxes go up at all . even the wealthiest americans would get a...
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the vote in front of them is going to be to cut taxes. taxes will rise anyway. the bush tax cuts will expire. then they'll bring in legislation saying let's cut taxes for the middle class and every republican out there including john boehner will say i voted for a tax cut, not a tax hike. >> well, here's tom cole speaking with chuck todd about cole's advice to pass the tax extensions for 98% of americans. here it is. rather comical. >> that advice was given in private, but you guys have a way of figuring out what? said in private. somebody leaked it out. that's fine. >> you didn't intend for this to go public? >> no. >> you did not -- this is something you were -- okay. >> but, again, it is what i said. it's not an inaccurate report. >> i mean, did republican leaders want cole's advice to be leaked? >> of course they did. i mean, and if they didn't want it to be leaked, they wanted it to be repeated. so john boehner has wiggle room. he can look like he's the tough guy to the tea party folks who have to vote him back in as speaker. tom cole is really laying out t
the vote in front of them is going to be to cut taxes. taxes will rise anyway. the bush tax cuts will expire. then they'll bring in legislation saying let's cut taxes for the middle class and every republican out there including john boehner will say i voted for a tax cut, not a tax hike. >> well, here's tom cole speaking with chuck todd about cole's advice to pass the tax extensions for 98% of americans. here it is. rather comical. >> that advice was given in private, but you guys...
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. >> some of it comes from the general fund, there's income taxes and other taxes in the tax code and payroll taxes that create this distinct funding mechanism. >> and some of the money in the general fund comes from the social security trust fund. >> that's right. >> i wanted to get more to the political aspect of it. so maybe popularly people don't want to see 34ed kade -- i'm sorry, medicare touched but the belt way folks, the folks that are going to be voting on this do want to see that. >> yes, would he do. >> what are we going to bring to the table? are we just going to say we're not going to bargain with you? i mean, at what level do we allow for, say, means testing? we may not like it, but that's what it's going to allow. >> means testing, we can do means testing. if you want to do means testing, there's a very efficient way of doing it. we will raise your taxes on -- >> if you have more money. >> the grand bargain. >> the reality is that's not going to happen. >> wait a second. >> that's not going to happen. we can talk about -- look, we can talk about -- >> the reason why th
. >> some of it comes from the general fund, there's income taxes and other taxes in the tax code and payroll taxes that create this distinct funding mechanism. >> and some of the money in the general fund comes from the social security trust fund. >> that's right. >> i wanted to get more to the political aspect of it. so maybe popularly people don't want to see 34ed kade -- i'm sorry, medicare touched but the belt way folks, the folks that are going to be voting on this...
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we got four bad years of regulation taxes, he wants to add higher taxes to that. tea party two is going to dwarf tea party one if obama pushes us off the cliff. >> there's a doctor strang love. how many republicans will be willing to stand up to that threat. david corn is here to talk about it, the washington bureau chief for mother joins and the author of "47 percent" he's a member of the gridiron society and john feehery is a republican strategist. grover, you're playing defense here. one man elected to nothing. the fact that saxby chambliss comes up, i don't have to live up to some pledge i made 20 years ago and calls up and has grover on the phone going through the transcript of what he said and he's apologizing for each segment as it. what's going on? a senator has to kiss butt to this guy? >> i have known grover for a long time and i like him and he representing -- >> you're afraid of him too. >> i'm not afraid of him. he represents a cause and he's been amazingly successful because taxes have gone down for a long time because of grover. what do we nou becau
we got four bad years of regulation taxes, he wants to add higher taxes to that. tea party two is going to dwarf tea party one if obama pushes us off the cliff. >> there's a doctor strang love. how many republicans will be willing to stand up to that threat. david corn is here to talk about it, the washington bureau chief for mother joins and the author of "47 percent" he's a member of the gridiron society and john feehery is a republican strategist. grover, you're playing...
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tax the rich first. obama, if he got his taxes on the rich, is still $8 trillion short over the next decade. that's where the energy taxes he's going to present and the value added tax that ultimately turns us into a european welfare state only of that can pay for obama's sized government. >> wow. grover, unfortunately we have to leave it there. our discussion of unicorns will continue, i'm sure, at least up until december 31st. thank you for joining us today as always. >> you got it. >> after the break, offer ver ses counteroffer. we will break both down with ezra klein when he joins us next on "now." i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our env
tax the rich first. obama, if he got his taxes on the rich, is still $8 trillion short over the next decade. that's where the energy taxes he's going to present and the value added tax that ultimately turns us into a european welfare state only of that can pay for obama's sized government. >> wow. grover, unfortunately we have to leave it there. our discussion of unicorns will continue, i'm sure, at least up until december 31st. thank you for joining us today as always. >> you got...
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there's no prospect of an agreement that doesn't involve the tax -- remember, it's 207b8%. remember, all of those americans, too, get a tax cut into that framework on the first $250,000 of their income. >> that said the president and speaker john boehner discussed the budget by phone yesterday. susan mcginnis is in washington with the latest on this game of fiscal chicken. susan, good morning to you. >> right. good morning, terrell. yeah, that phone call does raise the possibility that some serious talks could start soon, but now we learn that a lot of members of congress are heading out on a long weekend, not to return till tuesday, this as the impasse here on capitol hill continues and the nation waits. social security workers marched outside their office in baltimore wednesday. they're protesting the government spending cuts due to kick in at the end of the year as part of the fiscal clear. >> we don't want to see our public hurt in any way. >> just down the road in washington, d.c., the standoff continues. house speaker john boehner says he's still waiting for president
there's no prospect of an agreement that doesn't involve the tax -- remember, it's 207b8%. remember, all of those americans, too, get a tax cut into that framework on the first $250,000 of their income. >> that said the president and speaker john boehner discussed the budget by phone yesterday. susan mcginnis is in washington with the latest on this game of fiscal chicken. susan, good morning to you. >> right. good morning, terrell. yeah, that phone call does raise the possibility...
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own taxes. it's a sham and they ought to be rolled out of town if people understand what they were talking about. >> if people are worried about how they're going to take care of the homeless, how schools will be able to accommodate 30 kids in the class rom how people will be able to make ends meet when unemployment disappears. they can't be here. they can't afford it. they come here and write it off in their taxes $20 million a year ceos from these corporations, and continue to spread the hysteria and--and if their plan goes through the austerity plan, they and their company and their bonuses are actually the only thing that is going to improve in this economy. >> eliot: as they have over the past couple of years. income disparity is worse and worse and incomes are going up. lloyd blankfein telling people that they people should not expect to work for 25 years and then retire for 30. i don't think he understands what social security is all about. >>> the hispanic caucus said no today on a repub
own taxes. it's a sham and they ought to be rolled out of town if people understand what they were talking about. >> if people are worried about how they're going to take care of the homeless, how schools will be able to accommodate 30 kids in the class rom how people will be able to make ends meet when unemployment disappears. they can't be here. they can't afford it. they come here and write it off in their taxes $20 million a year ceos from these corporations, and continue to spread...
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then you're fighting for tax cuts, not tax increases, but we'll see. and the fact of the matter is that grover is just a vessel for a bigger issue. taxes used to be -- >> he seems to be calling the shots. >> he's not calling the shots. >> last week to figure out -- last week on the media there's a lot of reporting that saxby chambliss stood up to grover or broke with him. here is what he said. let's look at that first. >> i care more about this country than i do about a 20-year-old pledge. >> do you think that grover norquist would hold a no new tax pledge that you signed 20 years ago, would he hold that against you in an upcoming re-election bid for the u.s. senate? >> well, you know, in all likelihood, yes, but i don't worry about that because i care too much about my country. i care a lot more about it than i do about grover norquist. >> well, "the washington post" reports today that five days after making those comments on television -- on radio rather, chambliss and norquist spoke on the phone. as norquist read allowed a transcript of chambliss' e
then you're fighting for tax cuts, not tax increases, but we'll see. and the fact of the matter is that grover is just a vessel for a bigger issue. taxes used to be -- >> he seems to be calling the shots. >> he's not calling the shots. >> last week to figure out -- last week on the media there's a lot of reporting that saxby chambliss stood up to grover or broke with him. here is what he said. let's look at that first. >> i care more about this country than i do about a...
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and he's raised tax rates and he was elected based on his tax the rich policy. he says that america is poised to take off and if it doesn't, it's the republicans fault. listen. >> you have the u.s. chamber of commerce hardly an arm of my administration or the democratic party. i think, said the other day, we can't be going through another debt crisis, a debt ceiling crisis like we did in 2011. that has to be dealt with. so, i think businesses are going to be ready to hire. we're seeing pretty strong consumer confidence despite weaknesses in europe and even in asia. i think america is poised to take off. stuart: well, the republicans are set to respond today when speaker boehner goes in front of the cameras. will he show signs of retreat or any sign of compromise? remember, the president wants higher tax rates. will john boehner try to move the line that the president has drawn? we will have it for you live here on "varney & company" starting around ten o'clock eastern. then we have darden restaurants, the parent of olive garden, red lobster. it says its business
and he's raised tax rates and he was elected based on his tax the rich policy. he says that america is poised to take off and if it doesn't, it's the republicans fault. listen. >> you have the u.s. chamber of commerce hardly an arm of my administration or the democratic party. i think, said the other day, we can't be going through another debt crisis, a debt ceiling crisis like we did in 2011. that has to be dealt with. so, i think businesses are going to be ready to hire. we're seeing...
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i am a flat tax guy. what i don't get is why the united states wants to imitate the mistakes of western europe, jim pethokoukis. that's what i don't get. you get the last word. >> i think it's stunning and i hope we learn from yoour mistak as quickly as they did in great britain. >>> who needs to wait for a recession? our next guest says we may already be in one and it started way back in july. think about that. recession last july. stay with us. he'll defend his position. r ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. >>> we've got some more breaking news for you. the michigan
i am a flat tax guy. what i don't get is why the united states wants to imitate the mistakes of western europe, jim pethokoukis. that's what i don't get. you get the last word. >> i think it's stunning and i hope we learn from yoour mistak as quickly as they did in great britain. >>> who needs to wait for a recession? our next guest says we may already be in one and it started way back in july. think about that. recession last july. stay with us. he'll defend his position. r ]...
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remember, the president, two years ago, extended all of the tax cuts, including the tax cuts for top earners, on the grounds that the economy was so weak, it couldn't take the blow and the withdrawal in effect of money from the economy by doing that. so to some degree, the administration itself is evolving with changing economic circumstances. at some point, when you get in a recovery, and the administration's making the case and job numbers tell us we are recovering and other economic data do, too, you say some of the things we enacted as emergency measure during the great recession are going to either be taken away or tapered down. and that's part of the logic of including some cuts or some reduction in the extension of unemployment, food stamps and other things. >> but okay, we're going to talk about the reality of being poor in america and the next couple of block. the notion that you can start kicking people off food stamp rolls because we're in a recovery. if you look at how much money people are make, the stats, economic impact of giving a person a dollar in food stamps equals
remember, the president, two years ago, extended all of the tax cuts, including the tax cuts for top earners, on the grounds that the economy was so weak, it couldn't take the blow and the withdrawal in effect of money from the economy by doing that. so to some degree, the administration itself is evolving with changing economic circumstances. at some point, when you get in a recovery, and the administration's making the case and job numbers tell us we are recovering and other economic data do,...
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licensed by the state and paying taxes to it. this, all while the federal government still views possessing and certainly growing, selling, and distributing marijuana as serious felonies. how's that going to work is the big question that hangs over whatever celebrations the citizens of washington might engage in tomorrow. on a side note, tomorrow is also the first day that same-sex couples will be able to get marriage licenses in washington. then on sunday, they will actually be able to tie the knot. that was another huge stage washington state voters approved in the last election. if you are betting on how this country will evolve in the next few decades in terms of politics and policy, two safe bets. marriage equality and marijuana. both of those policies go into effect tomorrow in washington. the truly fascinating thing here is that starting tomorrow, we will see an abstract debate, an abstract policy discussion that we've had for many years. should pot be legal? how might it change society? how might it improve it? we'll see
licensed by the state and paying taxes to it. this, all while the federal government still views possessing and certainly growing, selling, and distributing marijuana as serious felonies. how's that going to work is the big question that hangs over whatever celebrations the citizens of washington might engage in tomorrow. on a side note, tomorrow is also the first day that same-sex couples will be able to get marriage licenses in washington. then on sunday, they will actually be able to tie the...
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in exchange, he says republicans could agree to more tax revenue, but not through higher tax rates. will both sides be able to work this thing out? let's bring in our panel, donna is an advisor to pennsylvania senator bob kerry and a former staffer for pennsylvania governor ed rendell. ron is a former communications director to the house speaker, dennis hastert. good to see you both. >> good to sigh. >> gregg: donna, let's start with what the president was offering a. even democrats are criticizing him for demanding 150 billion in more spending. not less, including a $50 billion stimulus this next year. at a time when the focus perhaps should be on spending cuts, are those democrats right? >> well, i'm hearing many more democrats resonating with the message that the president is delivering and that message is that he ran on and got elected on the basis of more taxes for the most wealthy americans. i think that there is a real danger for republicans in not really hearing that message. i've been impressed by the number of republicans that have made positive indications that more reven
in exchange, he says republicans could agree to more tax revenue, but not through higher tax rates. will both sides be able to work this thing out? let's bring in our panel, donna is an advisor to pennsylvania senator bob kerry and a former staffer for pennsylvania governor ed rendell. ron is a former communications director to the house speaker, dennis hastert. good to see you both. >> good to sigh. >> gregg: donna, let's start with what the president was offering a. even democrats...
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democrats only want to raise taxes on the top 2% and extend the bush tax cuts for everyone else. what they might agree on, cutting deductions. the middle class' most cherished tax break could be in the crosshairs of the fiscal cliff negotiations. we're talking about the mortgage interest deduction. it's been around for 99 years, but it's costing the government $80 billion this year and will reach $100 billion by 2014 making it the third largest tax expenditure according to the congressional research service. who is it really helping in the most recent irs tax data show 41 million people claim this deduction on their 2010 taxes, but the tax policy center points out it tends to benefit upper middle class families the most. for those with annual incomes of less than $40,000 a year, the average tax savings is just 91 bucks. for the people earning $250,000 a year, the annual tax savings runs about $5,500, and critics say it's not really helping to boost homeownership. going to talk to one of them in a moment. the homeownership rate in the u.s. is now about 65%. it was up near 70% duri
democrats only want to raise taxes on the top 2% and extend the bush tax cuts for everyone else. what they might agree on, cutting deductions. the middle class' most cherished tax break could be in the crosshairs of the fiscal cliff negotiations. we're talking about the mortgage interest deduction. it's been around for 99 years, but it's costing the government $80 billion this year and will reach $100 billion by 2014 making it the third largest tax expenditure according to the congressional...
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the payroll tax cut will expire. if you're a working person, you're losing $40 to $50 a week immediately in your first paycheck. the unemployment benefits will expire. if you're dependent on that, your income will fall off the cliff. if you're someone who listens on dividends and financial gains, the fact that tax on those will rise will not put a crimp in your lifestyle and you may not be taking any capital gains until june, july, august, september. those who are most vulnerable are those on the lower income ladder and who are benefiting from the benefits that will expire, they will feel like they're going over a cliff. >> eliot: brian, let me turn to you, politically am i not correct? the pieces of the tax impact that dan was just talking about that would have the greatest impact are the pieces that are the least likely to be extended under any deal. the payroll tax there seemed to be a consensus that there would not be an extension of the payroll tax cut because that is so necessary to funding social security. tha
the payroll tax cut will expire. if you're a working person, you're losing $40 to $50 a week immediately in your first paycheck. the unemployment benefits will expire. if you're dependent on that, your income will fall off the cliff. if you're someone who listens on dividends and financial gains, the fact that tax on those will rise will not put a crimp in your lifestyle and you may not be taking any capital gains until june, july, august, september. those who are most vulnerable are those on...
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obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that the country is facing. >> even the president got the tax rate hike he wanted understand we would continue to see trillion dollar deficits for as far as the eye can see. listen, washington has got a spending problem, not a re-knew problem. >> for many top democrats it's all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome of the fiscal cliff talks won't be the end of the world. >> we will have taxes that are the same as the taxes were under bill clinton. we did find that we will do fine. >> the question is whether the negotiations will lead to making other tough choices such as washington getting a handle on the growth of government. if not, the european example seems to suggest fiscal t
obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that the country is facing. >> even the president got the tax rate hike he wanted understand we would continue to see trillion dollar deficits for as far as the eye can see. listen, washington has got a spending problem, not a re-knew problem. >> for many top democrats it's all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that...
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it does tend to complicate the tax code. the simplest way is simply to raise the tax rates up to the clinton levels and, you know, we do have a strong interest in simplifying the tax code. but if that's politically for difficult, there's a willingness to retain the deductions that they could utilize. >> let me ask you about that. another interesting scenario played out with mitch mcconnell, essentially fill lee bust sistering his own bill. he says it has to guarantee that there won't be another debt ceiling crisis. but could that be where we're headed? >> well, it's certainly possible. it would be a terrible outcome and i think you're hearing business leaders weigh in and say, we don't want to go through this debate only to be followed by another big fight over the debt limit. and we just can't afford every year, every 18 months to have a debate about whether we honor the full faith and credit of the u.s. government. that's no way to run the country. >> what do you think the chances of that happening? >> it's possible. one o
it does tend to complicate the tax code. the simplest way is simply to raise the tax rates up to the clinton levels and, you know, we do have a strong interest in simplifying the tax code. but if that's politically for difficult, there's a willingness to retain the deductions that they could utilize. >> let me ask you about that. another interesting scenario played out with mitch mcconnell, essentially fill lee bust sistering his own bill. he says it has to guarantee that there won't be...
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nobody gets tax relief. we republicans will hang out right for that 2%. >> let's talk about the president's position on this. times done changed is perhaps an understatement. my paraphrase of your words. the president in a "new york times" piece today calls attention to the way the president was talking about putting revenue on the table in 2011 versus 2012. he was talking about ending deductions and closing loopholes as a primary way to get revenue on the table which is a different position than he has now. play that sound for everybody so they can remember. sorry. it's a full screen. i will read the quotation. what we said was give us $1.2 trillion in additional revenues which could be accomplished without hiking tax rates but simply accomplished by eliminating loopholes, some deductions and engaging in a tax reform process to lower rates generally while broadening the base. that is different from where the president is at now. is there currency to the republican argument that the president has moved the g
nobody gets tax relief. we republicans will hang out right for that 2%. >> let's talk about the president's position on this. times done changed is perhaps an understatement. my paraphrase of your words. the president in a "new york times" piece today calls attention to the way the president was talking about putting revenue on the table in 2011 versus 2012. he was talking about ending deductions and closing loopholes as a primary way to get revenue on the table which is a...
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tax rate which is now 35%. but i do think that you know, some republicans have floated the idea perhaps of being okay with races tax on his investment income. i think the president in his past budget definitely talked about that. and i think that in a way although so much of the focus is on raising the marginal tax rates, you know, the way that we typically think of individual income be taxed marginal tax rates and races the tacks on those is really an effective way to tax the wealthy. because the well identity disproportionately benefit from those type of low rates. >> jennifer: for sure. and, of course, we know that once they go over the fiscal cliff and those that -- that cap cal gains rate goes back to the clinton era it will be a 20% rate anyway. one way or another it's going to up. that's all i am saying. nancy took cook, thank you so much from the national journal thank you for join is us inside the war room. coming up, the car room is is not in the prediction business but we hear there is good money in
tax rate which is now 35%. but i do think that you know, some republicans have floated the idea perhaps of being okay with races tax on his investment income. i think the president in his past budget definitely talked about that. and i think that in a way although so much of the focus is on raising the marginal tax rates, you know, the way that we typically think of individual income be taxed marginal tax rates and races the tacks on those is really an effective way to tax the wealthy. because...
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but they would complain about paying their taxes they were proud to pay their taxes but who complained about as you know what the government not you know getting a good good bang for the buck kind of wasting the money two thousand dollars toilets you know in the eighty's you know it became you know you know just taxes themselves are bad thing and then you know you had the republican young guns like grover norquist for example. you know who just sort of took that issue and seized upon it and made it their you know they raise money that kind of bought into jude when his skis to santa claus theory and decided to go on the santa clause of tax cuts and they've been doing that for thirty years it didn't work it's not working anymore it seems like there was yeah and that's fine with me yeah ok tell me christopher thanks for being with them thanks very much always great to have. coming up every second every second two point four million pounds of carbon pollution are being pumped into the atmosphere warming the planet and having disastrous effects on our environment is a startling statistic en
but they would complain about paying their taxes they were proud to pay their taxes but who complained about as you know what the government not you know getting a good good bang for the buck kind of wasting the money two thousand dollars toilets you know in the eighty's you know it became you know you know just taxes themselves are bad thing and then you know you had the republican young guns like grover norquist for example. you know who just sort of took that issue and seized upon it and...
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should they raise the capital gains tax, and taxes on dividends, as well? or some combination of all of the above? right now they don't even seem to agree on the amount of money to be raised in revenue. let's listen to what senate majority leader harry reid had to say to explain the democrats' position on this. >> protect middle-class families from the fiscal cliff that they're facing by freezing the tax rates for the first $250,000 all americans' income and letting the rates go up to the same level they were during the clinton administration. republicans know where we stand. we've said it. we've said it. we've said it so many times, the president's said the same thing. >> and so republicans do know where democrats stand. this is certainly this idea of raising taxes on the wealthy is something that the president ran on in the last campaign. but republicans feel like there's been way too much focus on this whole tax side of things, and not nearly enough focus on spending cuts. which are also needed. let's listen to what house speaker john boehner had to say
should they raise the capital gains tax, and taxes on dividends, as well? or some combination of all of the above? right now they don't even seem to agree on the amount of money to be raised in revenue. let's listen to what senate majority leader harry reid had to say to explain the democrats' position on this. >> protect middle-class families from the fiscal cliff that they're facing by freezing the tax rates for the first $250,000 all americans' income and letting the rates go up to the...
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Nov 29, 2012
11/12
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on the middle class, tax the rich more. there were even calls in that room for higher minimum wages. clearly, no one wants to cut out the safety net that working people are promised for their lives of diligence, using their brains and brawn to build our country. >> mr. prince, republicans claim that the president's plan is bad for small business. why do you think they are wrong? >> let me tell you. the president's plans so far have helped my business. from 2008 to 2011, things were very flat. sales were flat or even down. as the stimulus started to kick in, we started seeing month to month, every month sense late 2010, our sales go up. it is consumers having more can have dense, having more money. obama care was huge. i provide health insurance for all my employees. the aca is underwriting small businesses doing that helped me absorb a huge increase because i have a couple of folks who work for me who are going through some illness problems. >> lee saunders, your members of afscme, will be financially hurt if we go over the
on the middle class, tax the rich more. there were even calls in that room for higher minimum wages. clearly, no one wants to cut out the safety net that working people are promised for their lives of diligence, using their brains and brawn to build our country. >> mr. prince, republicans claim that the president's plan is bad for small business. why do you think they are wrong? >> let me tell you. the president's plans so far have helped my business. from 2008 to 2011, things were...
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Nov 29, 2012
11/12
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we don't want to put both tax increases and entitlement cuts on the table. it's up to republicans and we'll come back with a counter. you can't force us to put an opening bid on entitlement cuts when we don't want any to begin with. and that's the movement. so i think even in public there's starting to be a little bit of moving and i think there is the ability for folks to get there. >> we do know pretty clearly i think that the white house thinks they have the upper hand. here is the president from his event yesterday. >> today i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. tell members of congress what a $2,000 tax hike would mean to you. >> so he's got his outreach to middle class americans. we saw him meeting with business leaders. his event is planned for tomorrow. we campaign-like and he is still using the campaign actually, more than a million people responded to that survey that obama for america put out and said they're interested in volunteering. so is par
we don't want to put both tax increases and entitlement cuts on the table. it's up to republicans and we'll come back with a counter. you can't force us to put an opening bid on entitlement cuts when we don't want any to begin with. and that's the movement. so i think even in public there's starting to be a little bit of moving and i think there is the ability for folks to get there. >> we do know pretty clearly i think that the white house thinks they have the upper hand. here is the...
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Dec 2, 2012
12/12
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>> well, don't tax you, don't tax me, tax the guy behind the tree. >> paul: russell long, former late senator. >> exactly. and what you see here are very wealthy people who can, you know, engineer ways to avoid taxes, meanwhile, what he's-- the medicine he's suggesting for people who are starting to do better, people who say, make $200,000, maybe working their whole life. they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and you think a normal human being with, you know, would be ashamed of that lack of intellectual honesty, should be. >> it's fascinating economic dri that costco is borrowing the money to pay this dividend. now, usually when companies pay dividends, it's out of earnings, right? >> yes, retained earnings, in this case, they're borrowing, taking on more debt, not to invest in the business in the future growth, but for a one-time equity pay out. >> and to worry about interest rates are low thanks to ben bernanke. >>, but this shows the tax rates combined with very low bore heing costs and instead of investing in growth, y
>> well, don't tax you, don't tax me, tax the guy behind the tree. >> paul: russell long, former late senator. >> exactly. and what you see here are very wealthy people who can, you know, engineer ways to avoid taxes, meanwhile, what he's-- the medicine he's suggesting for people who are starting to do better, people who say, make $200,000, maybe working their whole life. they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and...
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Dec 6, 2012
12/12
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what's going to be certain is taxes are going up. either we go off the cliff or the curb and then taxes rise for everybody and then maybe they get repealed for the middle class and others or we reach a deal and taxes go up for the wealthiest 2% and everybody else breathes a sigh of relief. there's some $2 trillion in cash sitting on the balance sheets of corporate america waiting to be put to work. the reason it hasn't been put to work is because of uncertainty. taxes are going to go up, the deficit is going to be reduced, some of that money is going to be released. just like ed schultz said, this is all very good news for the american economy. >> so basically the uncertainty is what's providing the certainty moving forward because people across the country will look at this and the hand wringing that's taking place in washington, d.c. back and forth. the framework that could come out of this could mean a much better booming economy? >> i think so. what's been holding back the 2d trillion on the sidelines is corporate ceos didn't kno
what's going to be certain is taxes are going up. either we go off the cliff or the curb and then taxes rise for everybody and then maybe they get repealed for the middle class and others or we reach a deal and taxes go up for the wealthiest 2% and everybody else breathes a sigh of relief. there's some $2 trillion in cash sitting on the balance sheets of corporate america waiting to be put to work. the reason it hasn't been put to work is because of uncertainty. taxes are going to go up, the...
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Dec 6, 2012
12/12
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tonight's question, will radical republicans ever agree to a tax hike deal? text "a" for yes and text "b" for no to 622639. you can always go to our blog and leave a comment. we'll bring you the results later on in the show. >>> joining me tonight, congressman steny hoyer of maryland, the house democratic whip. congressman, good to have you with us tonight. appreciate it. >> always good to be with you, ed. thanks. >> got some folks nervous talking about entitlements. when you say entitlement cuts are on the table, what does that mean and how far are you willing to go? >> well, when i say everything needs to be on the table, ed, i want everybody to put their cards on the table and tell me what they want to do. i want not only to see that myself, i want to see what others want to do, including my republican colleagues, in terms of entitlements. now, there are some things we are absolutely not going to do, as you well know. made it very clear during the election, we're not going to voucherize medicare. we're not going to privatize security. we believe very stron
tonight's question, will radical republicans ever agree to a tax hike deal? text "a" for yes and text "b" for no to 622639. you can always go to our blog and leave a comment. we'll bring you the results later on in the show. >>> joining me tonight, congressman steny hoyer of maryland, the house democratic whip. congressman, good to have you with us tonight. appreciate it. >> always good to be with you, ed. thanks. >> got some folks nervous talking about...
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Dec 5, 2012
12/12
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low tax small government party. the other party leadership proposes, wait for it, $800 billion in tax increases. it's noted that the democrats have celebrated the proposal put out by president obama. meanwhile, you have a number of republicans slamming speaker boehner. how would you describe his position right now? >> well, he really didn't win for losing. he's trying to say to president obama if i wanted topaz your proposal i can't do it. he's really truly between a deal and promise and getting the fight over with and a conference that won't allow it. i think what senator demint is saying and house republicans are saying to john boehner is, let's go over the cliff. that we can live with the sequester and we absolutely will not raise tax rates no matter what. what that does is eliminate all of the tax cuts and then there's a new fight in january to push obviously by the democrats to restore tax cuts for 98% of americans. and then that will be muddied by the need for a debt ceiling increase and the fight goes in to f
low tax small government party. the other party leadership proposes, wait for it, $800 billion in tax increases. it's noted that the democrats have celebrated the proposal put out by president obama. meanwhile, you have a number of republicans slamming speaker boehner. how would you describe his position right now? >> well, he really didn't win for losing. he's trying to say to president obama if i wanted topaz your proposal i can't do it. he's really truly between a deal and promise and...
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Dec 5, 2012
12/12
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tax. every state around hampshire had one or the other. in the 1960's, and every state added another one, either the sales tax or the income tax. within hesitation of their people that the other tax would come out and the revenue would be used because it will be more effective in collecting it. every one of those states, the revenues have gone down, the income tax has gone up, and the size of government has gone up. from my standpoint, a value- added tax is just a way to grossly expand the size of the government, and it does not fix our revenue problems. more importantly than that, just the point where i think this argument ends up, the american people would annihilate any party that passed a national sales tax rate. if the democratic party thinks they are in charge now, and they are, and the republican party has done some things to marginalize itself, but if you want to resurrect a republican party, give me a value-added tax. >> let's take the value-added tax off the table for this the se
tax. every state around hampshire had one or the other. in the 1960's, and every state added another one, either the sales tax or the income tax. within hesitation of their people that the other tax would come out and the revenue would be used because it will be more effective in collecting it. every one of those states, the revenues have gone down, the income tax has gone up, and the size of government has gone up. from my standpoint, a value- added tax is just a way to grossly expand the size...
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Nov 30, 2012
11/12
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KGO
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both men refusing to give ground on the issue of tax rates for the wealthy. obama insisting they go up, boehner insisting they don't. >> listen, this is not a game. jobs are on the line. the american economy is on the line. this is a moment for adult leadership. >> reporter: and taxes aren't the only sticking point. republicans are demanding the president come forward with a plan to limit spending on medicare and social security, something many democrats say is just not acceptable. >> i didn't have my own card with me. jill wouldn't let me have one. >> reporter: vice president biden got into the act today, too, taking a break from christmas shopping and snacking at costco to urge congress to extend middle class tax cuts. >> i think it's important congress acts now. i mean, right now. >> reporter: can mitt romney, with all his business experience, play a role on brokering a deal? well, don't count on it, diane. the president did not ask for his help today and the two simply agreed to keep in touch. and for now, nothing more. >> all right, thank you, jonathan k
both men refusing to give ground on the issue of tax rates for the wealthy. obama insisting they go up, boehner insisting they don't. >> listen, this is not a game. jobs are on the line. the american economy is on the line. this is a moment for adult leadership. >> reporter: and taxes aren't the only sticking point. republicans are demanding the president come forward with a plan to limit spending on medicare and social security, something many democrats say is just not acceptable....
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Dec 6, 2012
12/12
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a tax cut delayed i argue is a tax cut avoided. joining me with the republican defense highly tauted fan of the eagles, ed rendell and alex wagner of msnbc's "now." governor, i want you to read what's going on here. first speaker boehner defended the gop's tax proposal saying it does take a bite out of the rich but president obama held firm to tax rate hike on the wealthiest. let's listen to the back and forth. >> revenues we're putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy. >> let's allow higher rates to go up for the top 2%, that includes all of you, yes. but not in any way that's going to affect your spending, your lifestyles, or the economy in any significant way. let's make sure that 98% of americans don't see it -- a single dime in tax increases next year. >> so, john boehner, the speaker for the republican party in
a tax cut delayed i argue is a tax cut avoided. joining me with the republican defense highly tauted fan of the eagles, ed rendell and alex wagner of msnbc's "now." governor, i want you to read what's going on here. first speaker boehner defended the gop's tax proposal saying it does take a bite out of the rich but president obama held firm to tax rate hike on the wealthiest. let's listen to the back and forth. >> revenues we're putting on the table are going to come from, guess...
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Dec 6, 2012
12/12
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why double tax capital? anyway, thank you, danielle hughes, we appreciate it. >>> there is a major stir tonight over a cartoon narrated by actor ed asner. check it out. >> over time, rich people decided they weren't rich enough, so they came up with ways to get richer. the first way was to tax cuts. they said why should i care about other nonrich people? >> all right, this here is just an attack on free enterprise. shame on mr. asner, who's a good actor. it's an attack on success. it's an attack on capital itch. it's also an attack on good taste, although we didn't show the most vulgar part. where does a successful actor like this get off saying this kind of thing? what does he know about capitalism anyway as he makes his bucks, and by the way, this entire cartoon was sponsored by the teachers union. what a shocking surprise there. they, too, higher taxes on the rich, knock down free market capitalism, go up against free enterprise. you know, when is this left wing stuff going to end? i guess the answer is n
why double tax capital? anyway, thank you, danielle hughes, we appreciate it. >>> there is a major stir tonight over a cartoon narrated by actor ed asner. check it out. >> over time, rich people decided they weren't rich enough, so they came up with ways to get richer. the first way was to tax cuts. they said why should i care about other nonrich people? >> all right, this here is just an attack on free enterprise. shame on mr. asner, who's a good actor. it's an attack on...
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Nov 29, 2012
11/12
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we cannot tax our way back to budget surpluses and economic prosperity. without major spending cuts and entitlement reform, we will continue running huge deficits regardless of what we do on the revenue side. for every dollar of revenue you give him, he'll give you $2.50 of spending cuts. if he gave you that on spending cuts, it would be $850 billon a year would you do that? >> the president has said a lot of things, but what counts is what he's willing to put on the table and so far, he hasn't put medicare and social security, saving and preserving those entitlement programs on the table. i believe they have to be, because if we're going to preserve those for future generations, we need to do something meaningful on those. the problem is, erin, if we just do cuts in temporary spending, those can easily be undone. we know there's been a lot of promises made in exchange for tax increases and it never comes to pass when it comes to spending cuts. >> there was a "washington post" poll which said raise taxes on incomes over $250,000 a year, 60% support it. wh
we cannot tax our way back to budget surpluses and economic prosperity. without major spending cuts and entitlement reform, we will continue running huge deficits regardless of what we do on the revenue side. for every dollar of revenue you give him, he'll give you $2.50 of spending cuts. if he gave you that on spending cuts, it would be $850 billon a year would you do that? >> the president has said a lot of things, but what counts is what he's willing to put on the table and so far, he...
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Dec 4, 2012
12/12
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taxes and spending. what is an agreement that both sides can say yes, we each gave a little? >> the republicans must agree to higher tax rates on well off americans. all the way to the 39.6 that the president, they have to. that's the ticket for admission because the president won the election and campaigned on that. the democrats are going to have to agree. they'll use uf -- and that means health care for seniors and poor people and special needs kids. that is not an easy thing to ask anybody to do, let alone the democratic party. which really created these programs. this is going to be awful and gruesome, but 70 for 60 in your poll, 60% of americans want to raise taxes on well off americans. 70% don't want to cut or 80, don't want to cut medicare or medicaid, so the hard stuff is coming. this is the easy stuff. >> we're out of time, guys. nice to talk to you. i appreciate it. >>> next, violent clashes along the turkey, syria border and a new heir to the british throne is on the way. our piers morgan wi
taxes and spending. what is an agreement that both sides can say yes, we each gave a little? >> the republicans must agree to higher tax rates on well off americans. all the way to the 39.6 that the president, they have to. that's the ticket for admission because the president won the election and campaigned on that. the democrats are going to have to agree. they'll use uf -- and that means health care for seniors and poor people and special needs kids. that is not an easy thing to ask...
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Nov 30, 2012
11/12
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because the progressive tax rates, they encourage all sorts of tax evasion tax be avoidance and you know, they alter people's behavior in order to reduce their tax liability. so you know instead of investing here, you'll invest in some other country with a lower tax rate. you've had those kind of behaviors which would be narrow and progressive tax rates. hence, the money that you raise at the end of the day is not very much. >> eliot: you raise and sharpen our focus on the other side of the equation. as i was reading the article i said wait a minute, we're focusing so much on how we raise the money rather than how and where we spend it. and how much we spend. in a way we've been sucked into this debate about making a tax system progressive without looking as you say we should at how much we spend on the social programs that actually do redistribute. >> that's right. that's what really makes a difference. if you look at how effective taxes are at reducing inequality, they're really not very effective anywhere. what's really effective is spending. because you know, you can really -- if you
because the progressive tax rates, they encourage all sorts of tax evasion tax be avoidance and you know, they alter people's behavior in order to reduce their tax liability. so you know instead of investing here, you'll invest in some other country with a lower tax rate. you've had those kind of behaviors which would be narrow and progressive tax rates. hence, the money that you raise at the end of the day is not very much. >> eliot: you raise and sharpen our focus on the other side of...
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Nov 29, 2012
11/12
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FBC
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it never has been a tax issue. we have the same amount of revenue coming in in 2012 tat we had in 2007, but we spend a trillion dollars more per year now th we did five years ago. thiss a spending issue. gerri: spending or revenue, that is, the amount of money taken in by the federal government has recovered, and it's doing much better. >> right. gerri: turning your tarns to a conversation going on for days lately. the most recent adherent oklahoma congressman tom cole saying, look, republicans need to compromise. they need to keep tax cuts in place forpeople earning $250,000 and less. heays it's time to make a change and now people on the hill saying that the g.o.p. is splintering. what do you say? >> that's not true. actually, what tom was trying to say was it's a tax call thing. tom is against raising taxes on any level. he's against raising taxes on all folks, but have agreement with the president onhis group that's $250,000 and less, clear the table and make the bracket.ions in the upper he's against raising r
it never has been a tax issue. we have the same amount of revenue coming in in 2012 tat we had in 2007, but we spend a trillion dollars more per year now th we did five years ago. thiss a spending issue. gerri: spending or revenue, that is, the amount of money taken in by the federal government has recovered, and it's doing much better. >> right. gerri: turning your tarns to a conversation going on for days lately. the most recent adherent oklahoma congressman tom cole saying, look,...
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Dec 2, 2012
12/12
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we get taxes, will be cut. no, taxes will go up. spend willing be cut. everyone wants, almost everybody wants spending to be cut. what do you think will happen? >> let's look at wall street. what might happen to the 401(k)s or the stocks. last week, boehner said nothing is happening and stocks would plummet. somebody else would say something going on behind the scenes and stocks go up. this is tremendous volatility. this time of year we get santa claus rally, the stocks will rally until the end of the year. but if the taxes go on, on capital gains and dividends, people will start to sell now to have the better, more preferential tax treatment than afterwards. we may see selling in first of the year. >> eric: long-term, think long-term. once we get past that. what will the effect be? what if taxes on dividends go up? >> this is incredible disincentive. especially on the capital gains. to take the risk of investing. when you say long-term, long-term, if you don't need the money you invest in stock market. if you need it in the next five years don't go near
we get taxes, will be cut. no, taxes will go up. spend willing be cut. everyone wants, almost everybody wants spending to be cut. what do you think will happen? >> let's look at wall street. what might happen to the 401(k)s or the stocks. last week, boehner said nothing is happening and stocks would plummet. somebody else would say something going on behind the scenes and stocks go up. this is tremendous volatility. this time of year we get santa claus rally, the stocks will rally until...
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Dec 2, 2012
12/12
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fine, you don't want new tax rates. we're out of this. >> what we're trying to do is to get them to come together and join us and doing something that's good for the american economy, and we recognize that's going to require spending savings, not just revenue increases on the top wealthiest 2% of americans. >> and you propose the spending side. you like to see what they want? proposals on both sides. if they want to go beyond that, they should tell us what they like to do. if they want to do it differently -- >> whose turn is this? where are we in this? >> the ball really is with them now. again, they're in a hard place. they're having a tough time trying to figure out what they can do. that's understandable. this is very difficult for them. we might need more time to figure out where -- where they go next. >> we don't have a lot of time. >> you can't wait very long. what we are trying to do is be as clear as we can with what is essential to us and what we like to have and what we think is good for the american economy
fine, you don't want new tax rates. we're out of this. >> what we're trying to do is to get them to come together and join us and doing something that's good for the american economy, and we recognize that's going to require spending savings, not just revenue increases on the top wealthiest 2% of americans. >> and you propose the spending side. you like to see what they want? proposals on both sides. if they want to go beyond that, they should tell us what they like to do. if they...